Luxury Cigars in the Philippines - New Market Report
Republic Act No 10351 restructures the excise tax on alcohol and tobacco products resulting in the imposition of a uniform tax rate on cigars regardless of size or selling price which will lead to an increase in retail prices of cigars by at least 20%. While local cigar companies find the new tax rate unreasonable, luxury cigar distributors remain hopeful that expensive cigars will continue to be patronised especially as the building of new luxury hotels is expected to bring...
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